The E-Sylum: Volume 10, Number 30, July 29, 2007, Article 32
MONSTER CANADIAN GOLD COIN TO BE AUCTIONED
"Teletrade, an Irvine company is selling the world's largest
gold coin, a sale that could enter the record books in several
categories:
At 100 kilograms or about 220 pounds of gold, the coin  the
first of at least five planned by the Royal Canadian Mint 
holds a world record for weight. The previous record was 31
kilos set by the Austrian mint in 1994.
Teletrade will take a 12 percent commission above the hammer
price.
"'It will set a record for Teletrade and, to our knowledge, be
the most expensive coin offered at online auction,' said Ian
Russell, president of the Irvine-based online coin auction
house. 'Obviously, this takes things to a new level.'
"A-Mark Precious Metals, a Teletrade affiliate that specializes
in coin wholesaling, bought three of the five 100-kilo coins
from the Royal Canadian Mint.
"The 100-kilo coin is stored at an undisclosed location guarded
by shotgun-armed Brinks security guards. Earlier this week, a
group of guards unpacked the coin from a foam-lined strong box
to display it for photographers. None of the guards, who are
used to handling lots of money, dared touch the gold, which is
tough to tarnish but easy to dent.
"'It won't be getting dented,' Roberts said."
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[Dick Johnson echoed my own sentiment on this. He writes: "Don't
you think anyone who has that kind of money is smart enough to know
you can buy this from the Canadian Mint direct and pay $970,000 U.S.
instead of the bid price plus 12 percent vigorish?" -Editor]